ROBERT KIYOSAKI: Bitcoin Is Messing Into the Fed’s Territory! | 0 Million BTC Price Prediction!

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Bill Miller, chairman and chief investment officer of Miller Value Partners, is sharing his crypto investment strategy and why he’s bullish on Bitcoin (BTC).

In a FutureProof interview, the head of the investment firm that manages $3 billion in assets describes the start of his journey as a BTC believer.

“I got involved in Bitcoin around 2013. It was trading at around $200 or so when I started buying it. Then it ran up to around $1,100 to $1,200 and then Mt. Gox collapsed. [Bitcoin] collapsed all the way back to $200 again in 2014. I began to buy it again… My average cost is about $300 [a coin].”

Miller says there are several fundamental reasons why he became an early adopter and long-term advocate of the world’s leading cryptocurrency.

“The nature of what it was trying to do, it had many different ways to win. My view was if any of those various things – it became a currency, it became a payment system, it became a non-correlated asset – any of those things, much less all of them, would lead to a very dramatic move in the underlying price.

That was also helped along by the fact that it is limited to 21 million Bitcoin and it is decentralized. It is not able to be tampered with or debased.”

From an investment standpoint, Miller says Bitcoin continues to offer a very favorable risk-reward ratio.

He’s an advocate for a small 1% to 2% portfolio allocation to BTC.

In the long run, he believes he could earn a 1000x or more return on his BTC investment, which would place Bitcoin at $300,000.

“I could make 100x of my money. I could make 1,000x, maybe more than that. I can only lose 100%… I still have it. I haven’t sold any Bitcoin… Back in the 70s and early 80s, people were talking about putting 5% of your assets in gold because it’s a hedge.

It’s an insurance policy in case inflation comes back again as it did in the 1970s. I would say that if that’s a sensible thing to do, then, certainly to have 1 to 2% of your assets in Bitcoin makes great sense here.”

The experienced investor also makes a unique case as to why Bitcoin is less risky now compared to when it was trading below $100.

“For most assets that you buy, the more they go up in price, the less value there is to be extracted out of it, and the riskier it becomes.

Bitcoin is in an unusual position of being the exact opposite of that. It was very risky when it was trading at a dollar, $5, or $10. It could have easily disappeared.”

In other trending Bitcoin News today:

Bitcoin Price Stalls at $9,300, Altcoins Rally to New Multi-Year Highs

Within the last few hours, the Bitcoin (BTC) price pushed above $9,300 after struggling to hold the $9,300–$9,400 level for the past three days. 

As Bitcoin price slowly worked its way through resistance to $9,300, a handful of the top-50 altcoins posted strong double-digit gains.

Cardano (ADA) reached a new two-year high by rallying 26% to $0.13. 

Chainlink (LINK) also rallied 6.11% to a new all-time high at $5.99.

VeChain (VET) was another top performer for the day with a 21.6% rally.

According to CoinMarketCap, the overall cryptocurrency market cap now stands at $271.3 billion and Bitcoin’s dominance rate is 63%.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://cointelegraph.com/news/bitcoin-price-stalls-at-9-300-altcoins-rally-to-new-multi-year-highs

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Popular Crypto researcher Lark Davis aka ‘The Crypto Lark’ thinks a number of decentralized finance (DeFi) projects that are not built on Ethereum have significant growth potential to outperform Bitcoin (BTC) as well as ETH in 2020.

He specifically highlights the upside of four little-known crypto assets that he believes could see big growth in the short term.

“I believe that DeFi outside of Ethereum is likely to be a big growth area in the coming months even if we still have great DeFi projects launching on Ethereum.”

Davis calls out Kava (KAVA), Band Protocol (BAND), Switcheo (SWTH) and Nash (NEX) as his top picks.

Kava is a cross-chain, DeFi lending platform.

Its token is trading at about $1.97 at the time of writing, and it has seen 4x gains since mid-May.

Despite its already-skyrocketing value, Davis says the token still has “massive potential for long-term price appreciation.”

“The team and the backers of Kava are very, very strong as well. In my opinion, this has all the makings to be as big as Ethereum’s MakerDao, which at its height had a market cap over $1 billion.” 

Band Protocol is a Cosmos blockchain native and cross-chain data oracle network that competes with Chainlink.

Its token is currently trading at about $2.42 at time of writing and has increased about 120% in price since the beginning of July.

Says Davis, “BAND already has a big, growing list of high-profile partners, people like Binance and Wanchain and Elrond and Fantom and Kava, of course.” 

SWTH and NEX are both decentralized exchange tokens.

Davis says they have upside potential because Switcheo is launching a new derivatives exchange and upgrading their token model, and Nash just launched a zero-fee fiat on-ramp for users in the European Union.

Davis does warn, however, that both are competing with tons of other decentralized exchanges, which could impact their growth.

In other trending Bitcoin News today:

Bitcoin Price Must Now ‘Reclaim $9,400 Quick’ to Stop Bears – Trader

Bitcoin (BTC) must reclaim $9,400 as soon as possible in order to change its bearish course, says Cointelegraph Markets analyst filbfilb.

In an update on social media on July 16, the popular trader warned that the situation facing Bitcoin was fast becoming make or break.

“BTC Bulls need to reclaim $9400 quick sharp,” he wrote in comments on a long-term price chart. 

Attention focused on BTC/USD being stuck in a compression cycle which has lasted for multiple weeks.

Compression refers to a pattern of higher lows and lower highs, with a trading corridor narrowing before a breakout.

For Bitcoin, the danger lies in a potential climax occurring in bearish territory as denoted by the Bollinger Bands volatility indicator.

Bollinger Bands consist of an upper and lower band surrounding a middle band and have historically captured both bullish and bearish moves by Bitcoin.

“Coming to the end of consolidation/compression now.. doing so below the middle of the bbands is not typically a good sign,” filbfilb continued. Should $9,400 reappear, he added, the outlook would be open to reinterpretation: “Reclaim that level and happy to reconsider bearish bias.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

https://cointelegraph.com/news/bitcoin-price-must-reclaim-9-400-quick-sharp-to-stop-bears-trader

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It’s been an explosive past few days for Bitcoin (BTC).

After tanking as low as $8,600 on the weekend before last, the Bitcoin price breached $10,000 just hours ago.

On Bitstamp, BTC traded as high as $10,429, according to TradingView.com data.

While the asset remains below the yearly highs of $10,500, a prominent analyst noted that this rally has formed Bitcoin’s largest breakout ever.

This suggests that the crypto market is heading much higher than it is in the long run.

Chief executive of Real Vision Raoul Pal shared the below chart in the wake of the BTC price breaking past $10,000, attaching the comment:

“Here it is on a log scale… this is the biggest chart pattern break out thus far…”

The chart depicts that Bitcoin is now trading above the downtrend that formed at the $20,000 all-time high.

The technical downtrend marked the $14,000 2019 high, along with the $10,500 high seen earlier this year.

Pal did not explain the significance of this technical breakout during this thread, but he has in a recent research note.

In the April newsletter from his macroeconomic analysis firm Global Macro Investor obtained by NewsBTC, he wrote that “I think it hits $100,000 in the next two years alone” in reference to a chart almost identical to the one above.

The only difference was that when he shared the chart, it had not broken past the resistance.

Bitcoin’s crucial technical breakout isn’t the only reason why the former Goldman Sachs executive is bullish on the cryptocurrency.

Pal remarked in a Twitter thread published in early May that the confluence of record-level fiscal and monetary stimulus, coupled with the Bitcoin halving, is setting BTC up for success in the long run:

“This is confirmed by stock to flow models by PlanB and the breakout has happened almost exact at The Halvening. Add to that HUGE the ENTIRE worlds central banks are […] printing money like CRAZY. quantitative easing fiat meets the hardest money that automatically quantitatively tightens.”

This led him to the conclusion that Bitcoin currently has one of the “best set ups in any asset class I’ve ever witnessed…technical, fundamental, flow of funds and plumbing.”

While he has floated the $100,000 price target, the investor has mentioned a $10 trillion market capitalization in the past.

Speaking to Max Keiser, Pal said that Bitcoin could eventually rival the market capitalization of gold, which sits around $9 trillion:

“If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process.”

For context, a $10 trillion market capitalization corresponds with more than $500,000 per coin. In other trending Bitcoin News today:

Bitcoin (BTC) Soars Above $10,000 – Here’s What Will Trigger ‘Insanely Bullish’ Breakout According to Analyst Josh Rager

Crypto strategist Josh Rager tells his 72,000 Twitter followers that BTC is close to making a move that will have huge bullish implications.

However, the bulls have a bit of work left to do.

“BTC breaking above daily resistance. [Bitcoin is] showing no mercy to bears and is on route to try to break above $10,300. Closing above $10,370 would be insanely bullish.” 

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Add to that the ENTIRE worlds central banks are either seeing their currencies collapse to the almighty dollar (BRL, TRY, ARG, etc) or they are printing money like CRAZY.

HUGE quantitative easing fiat meets the hardest money that automatically quantitatively tightens. $BTC wins.

— Raoul Pal (@RaoulGMI) May 8, 2020

$BTC breaking above daily resistanceShowing no mercy to bears and is on route to try to brak above $10,300s

Closing above $10,370 would be insanely bullish pic.twitter.com/0l8YTrJ6Uy

— Josh Rager 📈 (@Josh_Rager) June 1, 2020

https://t.co/j8wdrwiVbD

1/ With $BTC back over $10,000 for the first time since a brief scrape above this threshold in early May, we are revisiting our long-term key triple volume measurement to analyze the health of both the on-chain and social metrics that are vital to justify pic.twitter.com/nYQjVUOeAS

— Santiment (@santimentfeed) June 2, 2020